Money Market Account

Money Market Account News

It’s a truth universally acknowledged that a single man in possession of a good fortune must be in want of a wife, at least according to Jane Austen’s “Pride and Prejudice.” Two centuries later, the women are likely to be just as wealthy, a survey by U.S. Trust shows.

A federal judge threw out a lawsuit claiming MetLife Inc. unfairly profited from the account of a policy beneficiary, while saying the company-described money- market account the life insurer uses to pay claims has an “inherently deceptive” name.

The package arrived at Cindy Lohman’s home in Great Mills, Maryland, just two weeks after she learned that her son, Ryan, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-inch-by- 12-inch envelope from Prudential Financial Inc ., which handles life insurance for the Department of Veterans Affairs.

Bank of America Corp., JPMorgan Chase & Co. and three other banks agreed to pay $25 million to New York to resolve some monetary claims over the use of a mortgage database after reaching a $25 billion national settlement over foreclosure practices.

Regulators in three U.S. states have started or widened examinations of how life insurers pay beneficiaries after a federal judge described MetLife Inc. ’s marketing of asset accounts as “inherently deceptive,” even as he dismissed the underlying suit against the company.